Less than 30 days to file your Self Assessment tax return! Don’t panic!

Ideally, you would have completed and filed your 2021/22 Self Assessment tax return long before now. You’re probably wishing you had. But January is here and for whatever reason, you didn’t get around to it. Life’s very busy for sole traders, but don’t worry – you’re not the only one. Each year, about four million […]

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MTD for VAT changes: what you need to know ahead of 1 April 2022

All VAT-registered businesses – regardless of their turnover – must comply with Making Tax Digital (MTD) for VAT rules from 1 April 2022. If you haven’t already done so and you’re VAT-registered, you need to take steps to comply with MTD for VAT requirements. Here’s what we’ll cover What is MTD and why is it […]

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Are you struggling to pay your self-assessment tax bill?

If are struggling to pay your self-assessment tax bill as your income has been affected by coronavirus, you may be able to pay via a payment plan. HMRC have an online application for Time to Pay. You can spread the cost of your latest self-assessment bill if You owe ÂŁ30,000 or less You do not […]

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Self Assessment deadline delay – could you still be charged?

You still needed to send HMRC your 2020/21 Self Assessment tax return and pay any tax owed by 31 January, but due to coronavirus they announced they will waive late filing/payment penalties for tax returns submitted before midnight on 28 February if you can’t. Tax returns treated as being received late have the following downsides: […]

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